Norvestor Equity AS Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Norvestor Equity AS has invested in 4 companies.

Norvestor Equity AS’s most common sectors for investment are information technology (11%) and business services (9%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (65%) and growth capital (20%). In total, Norvestor Equity AS has invested in 6 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired Eneas Energy AS for $91M.

In the last 3 years, Norvestor Equity AS has exited 5 companies. The Firm’s most common exit type is trade sale (35%). Norvestor Equity AS’s largest (disclosed) exit occurred in 2019 when it sold Nomor AB for $200M.

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M&A Summary

  • M&A Total Activity105
    • M&A Buy Activity67
    • M&A Sell Activity38
  • Total Sectors Invested 25
  • Total Countries Invested 6
  • M&A Buy/Sell Connections 18
  • M&A Advisors 7

Norvestor Equity AS

hieronymus heyerdahls gate 1,
Oslo, 0110
Norway
+47 23 00 07 00
www.norvestor.no
contact@norvestor.com

Norvestor Equity is an independent private equity group focused on opportunities throughout Norway and the nearby Nordic region. Norvestor generally looks to acquire control positions in businesses with strong market positions, clear potential for sales and earnings growth, and motivated management. Sectors of interest include engineering/technology, food/beverage, IT, telecommunications, maritime equipment, oil services, power/energy, retail, and services/outsourcing. The Firm's investment size is €10 to €45 million in companies with enterprise values of €20 to €125 million. Norvestor Equity is based in Oslo with an additional office in Stockholm.


Investment Criteria

Sectors of Interest: Automotive, Building Materials, Business Services, Communications, Consumer Services, Education, Energy Services and Equipment, Environmental, Food, Healthcare Services, Information Technology, Internet Software and Services, Machinery, Manufacturing, Metals/Mining, Retail, Software, Technology Hardware, Test/Measurement Equipment, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Divestiture, Growth Capital, Recapitalization, Secondary Buyout

Geographic Preferences: Scandinavia

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 10 45
Enterprise Value 20 125
values in millions of EUR

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (2.6/yr) # 54 6 2 3 2 - 67
vol $21M $91M $112M
Sell (1.4/yr) # 31 1 1 - 4 1 38
vol $159M $200M $359M
  105

Most Recent M&A

Company Date Value Type
Wexus Gruppen AS 2020-06-04 - Add-on Acquisition
Stavanger, Norway · www.wexus.no
Cegal AS 2019-11-27 - Secondary Buyout
Sandnes, Norway · www.cegal.com
Oy Johnson Metall Ab 2019-11-25 - Add-on Acquisition
Pirkkala, Sweden · www.johnson-metall.com
Nomor AB 2019-09-09 200M USD Add-on Acquisition
Sollentuna, Sweden · www.nomor.se
IT Gården i Landskrona AB 2019-07-09 - Add-on Acquisition
Landskrona, Sweden · www.itgarden.se
Xllnc Nordic AB 2019-02-05 - Growth Capital
Växjö, Sweden · www.xllnc.com
Wellit AS 2019-01-11 - Growth Capital
Stavanger, Norway · www.wellit.com
Stamina Group AS 2018-12-10 - Secondary Buyout
Oslo, Norway · www.staminagroup.no
Porvoon Huoltomiehet Oy 2018-11-22 - Growth Capital
Porvoo, Finland · www.porvoonhuoltomiehet.fi
The North Alliance AS 2018-06-18 - Secondary Buyout
Oslo, Norway · www.thenorthalliance.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
PG Flow Solutions AS 2014-01-01 Cflow Fish Handling AS 2018-11-19 2
Hvalstad, Norway · www.pg-marinegroup.com Langevag, Norway · www.cflow.no
Roadworks 2015-01-01 CC4 companies 2015-11-03 2
Grimstad, Norway · www.roadworks.no Arendal, Norway
PG Flow Solutions AS 2014-01-01 Calder Ltd. 2015-10-01 1
Hvalstad, Norway · www.pg-marinegroup.com Worcester, United Kingdom · www.calderltd.com
Roadworks 2015-01-01 Veisikring AS 2015-08-26 1
Grimstad, Norway · www.roadworks.no Drammen, Norway · www.veisikring.no
Marine Aluminium AS 2012-01-02 Uptime International AS 2015-06-30 1
Avaldsnes, Norway · www.m-a.no Ålesund, Norway · www.uptime.no
Apsis Group AB 2010-09-02 ProspectEye AB 2013-12-18 1
Malmo, Sweden · www.apsis.se Skåne, Sweden · www.prospecteye.com

M&A by Sector

Sector Current # Value All-time # Value
Information Technology 2 (8%) - 7 (10%) -
Business Services 3 (12%) - 6 (9%) -
Energy Services and Equipment 3 (12%) - 6 (9%) -
Internet Software and Services 2 (8%) - 5 (7%) -
Retail 1 (4%) - 5 (7%) -
Software 1 (4%) - 5 (7%) -
Food - - 4 (6%) -
Machinery 2 (8%) - 4 (6%) -
Communications 2 (8%) - 3 (4%) 21M (19%)
Healthcare Services 1 (4%) - 3 (4%) -
Manufacturing 3 (12%) - 3 (4%) -
Consumer Services - - 2 (3%) -
Environmental - - 2 (3%) -
Utilities 1 (4%) 91M (100%) 1 (1%) 91M (81%)
Automotive 1 (4%) - 1 (1%) -
Building Materials 1 (4%) - 1 (1%) -
Chemicals 1 (4%) - 1 (1%) -
E-Commerce - - 1 (1%) -
Education - - 1 (1%) -
Engineering - - 1 (1%) -
Leisure 1 (4%) - 1 (1%) -
Marketing 1 (4%) - 1 (1%) -
Metals/Mining - - 1 (1%) -
Technology Hardware - - 1 (1%) -
Test/Measurement Equipment - - 1 (1%) -
Total 26 $91M 67 $112M

Acquisitions By Geo

State/Country Current # Value All-time # Value
Norway 17 (65%) 91M (100%) 49 (73%) 112M (100%)
Sweden 7 (27%) - 13 (19%) -
United Kingdom 1 (4%) - 2 (3%) -
Finland 1 (4%) - 1 (1%) -
Italy - - 1 (1%) -
Denmark - - 1 (1%) -
Domestic 17 (65%) 91M (100%) 49 (73%) 112M (100%)
Cross-border 9 (35%) - 18 (27%) -
Total 26 $91M 67 $112M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (35%) - 43 (64%) -
Growth Capital 9 (35%) - 13 (19%) -
Secondary Buyout 4 (15%) 91M (100%) 5 (7%) 91M (81%)
Going Private 1 (4%) - 2 (3%) 21M (19%)
Stake Purchase 1 (4%) - 2 (3%) -
Consolidation 1 (4%) - 1 (1%) -
Divestiture 1 (4%) - 1 (1%) -
Total 26 $91M 67 $112M

Exits by Deal Type

Type Total # Value
Secondary Sale 11 (29%) -
Trade Sale 11 (29%) -
IPO 9 (24%) -
Trade Sale - Public Company 5 (13%) 315M (88%)
Sold to Management 1 (3%) 44M (12%)
Unknown 1 (3%) -
Total 38 $359M

Top M&A Advisors

Financial Deals
Stella Capital Advisors LLP
1
Delphi Advisors GmbH
1
UBS Investment Bank
1
Legal Deals
BA-HR
1
Advokatfirmaet Thommessen AS
1
Advokatfirmaet Schjødt AS
1

Deal Values

buy # Total
< $100M 2 $112M
TOTAL $112M
Largest Eneas Energy AS
$91M (2016-07-04)
sell # Total
$100M to $1B 2 $315M
< $100M 1 $44M
TOTAL $359M
Largest Nomor AB
$200M (2019-09-09)

M&A Connections

Deals %
Acquired from
PE Firm(s)
83%
5 83%
Strategic(s)
17%
1 17%
Exited to
PE Firm(s)
38%
8 38%
Strategic(s)
62%
13 62%

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